v3.26.1
Accounts Receivable, Net
12 Months Ended
Dec. 31, 2025
Accounts Receivable, after Allowance for Credit Loss [Abstract]  
Accounts Receivable, Net

4. Accounts Receivable, Net

The following table sets out the balance of accounts receivable excluding notes receivable as of December 31, 2024 and 2025 (in thousands):

 

 

As of December 31,

 

 

 

2024

 

 

2025

 

 

 

RMB

 

 

RMB

 

Accounts receivable, gross

 

 

382,197

 

 

 

344,664

 

Allowance for expected credit losses

 

 

(85,419

)

 

 

(70,365

)

Accounts receivable, net

 

 

296,778

 

 

 

274,299

 

The following table sets out the balance of notes receivable as of December 31, 2024 and 2025 (in thousands):

 

 

As of December 31,

 

 

 

2024

 

 

2025

 

 

 

RMB

 

 

RMB

 

Notes receivable, gross

 

 

30,048

 

 

 

18,837

 

Allowance for expected credit losses

 

 

(31

)

 

 

(17

)

Notes receivable, net

 

 

30,017

 

 

 

18,820

 

The following table presents the movement of the allowance for expected credit losses (in thousands):

 

 

2023

 

 

2024

 

 

2025

 

 

 

RMB

 

 

RMB

 

 

RMB

 

Balance as of January 1,

 

 

312,236

 

 

 

106,667

 

 

 

85,450

 

Additional provision for/(reversal of) allowance for expected credit losses, net of recoveries

 

 

14,682

 

 

 

(4,747

)

 

 

(6,755

)

Write-off

 

 

(220,251

)

 

 

(16,470

)

 

 

(8,313

)

Balance as of December 31,

 

 

106,667

 

 

 

85,450

 

 

 

70,382